Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?
Saturday, 21 January 2017
Last updated 12 hours ago
Jan 14 2014 | 12:21pm ET
One of 2012's biggest Asian hedge fund launches posted "respectable" returns in its first full year.
Tybourne Capital Management was up 16.04% last year, The Wall Street Journal reports, better than the average hedge fund both globally and in the Asia-Pacific region, but far behind the broader markets. That led co-founder Eashwar Krishnan to describe the performance as "respectable" in a letter to investors.
Krishnan, Lone Pine Capital former Asia chief, and former Goldman Sachs capital introductions executive Tanvir Ghani, set up Tybourne in Hong Kong in the summer of 2012. The Asia-focused long/short equity strategy returned 5% in the second half of that year.
Krishnan told clients that he expects better things in 2014. He wrote that the fund has major exposure to "less fashionable markets in Asia," including Southeast Asia and China. "The underperformance and relative valuation discounts in developing Asia vis-à-vis developed markets are approaching levels that we believe are very compelling."